Reasons to Use a REALTOR® and A Professional Real Estate Agent?
Article by Utah Real Estate.com
Navigating today's real estate market can be treacherous. Professional REALTORS® in Utah have the tools, training and expertise necessary to help make sure you have a successful real estate transaction. Use this page to find the right real estate professional for you.
Determine Your Buying Power
If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders offer limited choices.
Assistance with Your Home Search
REALTORS® have access to many industry tools unavailable to the public to assist with property searches. These tools include access to your areas Multiple Listing Service (MLS) technology.
Provide Objective Information
There are two things you'll want to know. First, will the property provide the environment you want for a home or investment? Second, will the property have resale value when you are ready to sell? Agents who are REALTORS® have access to a variety of resources regarding utilities, zoning, schools, roadways, business districts, etc. to help answer these questions.
There are many negotiating factors including price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
Depending on the area and property due diligence could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do these investigations. You will also want to see a preliminary report on the title of the property, which indicates ownership of property and can be mired in confusing status of past owners or rights of access.
Financing and Lenders
Your REALTOR® works frequently with various lenders and has a good understanding of the different financing options available to home buyers. These personal networks can expedite the home buying process and simplify financing options that are often times confusing.
The Closing Process
All of the preliminary work culminates at the closing, which can be an intimidating process for those unfamiliar with it. REALTORS® can help guide you through the closing process and ensure that all of the parties involved are cooperating and completing their respective work on your behalf.
When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc.
Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts.
Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.
Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).